5 HSE goals Det norske s main HSE objectives are to execute our operations in a manner ensuring that we: Avoid harm and injuries to personnel, the environment and financial assets Avoid work-related illness ensuing from operations Ensure the technical integrity of facilities Avoid orders from the Norwegian authorities Det norske shall achieve these objectives through: Integrating HSE-related goals, strategies and action plans in all projects and activities managed and carried out by the company. Tasks related to HSE and reducing risk of major accidents shall be prioritized at all levels within the company. Being a good employer. HSE-related issues pertaining to all activities offshore and onshore are to be taken seriously and duly followed up. Det norske s premise is that all undesired events can be avoided. To develop a good HSE culture and promote a healthy attitude is important in order to achieve our goals. 5

6 Key Factors Plan Understand the task Identify risks and control measures Perform Implement control measures Perform the task as planned Monitor Are risk control measures working? Are the risks different to what was expected? Are we following the plan? Are we making unplanned changes? Stop Stop if you are unsure Time-out to assess uncertainties/concerns 6

7 Walking the Walk... Take time to plan things correctly Take your «Authority to Stop Unsafe Work» seriously Take ownership of the choices you make 7

11 Det norske- an active player on the NCS Pure play on the NCS Active exploration company Second largest acreage holder on the Norwegian Continental Shelf Significant development projects Ivar Aasen and Johan Sverdrup fields to secure future production growth Acquisition of Marathon Oil Norway Added significant production and reserves Resulted in a diversified asset base across all stages of the E&P lifecycle 11

12 Creation of a strong Norwegian E&P company Acquisition of Marathon Oil Norway transformed Det norske Integration was completed in less than 4 ½ months Organisational set-up to support flexibility and agility in the decision-making process Financing secured for the current work program Significant free cash flow from 2020 onwards as Johan Sverdrup is brought on stream Diversified portfolio to support further growth 12

13 Traditional business model is challenged Cost inflation In all parts of the value chain Falling profitability Return on capital down Cash flow squeeze Oil price stagnant Recent years not increased at same rate as costs Downward trending New business models Focus on value and cost Portfolio activity More focused models

14 We will meet the external challenges Det norske will continue developing by being... Value driven and disciplined in everything we do Focused around our core areas Efficient in how we run our operations Agile and flexible in the way we are organized

17 Recap strategic direction: Det norske way Value driven and disciplined in everything we do Focused around our core areas Efficient in how we run our operations Agile and flexible in the way we are organized

18 Implications for how we want to work with our suppliers More value driven Business Strategy More cost driven Value driven and disciplined Emphasize best value, not only lowest costs Focused around our core areas Efficient in how we run our operations Agile and flexible in the way we are organized Accelerate innovation through partnerships Partner to get best possible capabilities for our assets Continuous improvement Run efficient processes Use supplier capabilities and capacity strategically Drive standardization Work together to improve quality, cost and time Our supply chain strategy is supporting our by the business strategy

19 Internal focus External focus We will work together with our suppliers to improve performance over time Value Value creation beyond cost cutting SRM driven by innovation and continuous improvement SRM Increased complexity, spend and criticality Value creation on the table Impact of contract management No contract management Contract management Contract Administration Time Number of suppliers Impact of strategic sourcing Impact of supplier relationship mgmt (SRM)

21 Det norske`s expectation to suppliers Plan Perform Improve Service minded and responsive High performance and responsibility for HSE&Q Open and honest communication Plan work with correct resources & competence Delivery upon agreed time and quality. ALWAYS Identify adjustments, get approvals and implement Prequalify and follow-up all subcontractors Ability to develop products, services & competence Standardize to improve overall value High ambitions and ability to challenge, think differently Contribute to high operational regularity Focus on continuous improvements 21

22 What to expect from Det norske An innovative organization......staying close and hands-on......seeking continuous improvement......creating value for all stakeholders Developing strategic partnerships to increase value creation for all stakeholders 22

32 Ivar Aasen Operation Objectives Support Company s overall strategy Prioritize HSE and Safety, Quality, Production and Cost Lean and efficient Operational model and Organization Promote Continuous Improvement and effective Knowledge Sharing Efficient preparation for operations, ready for first oil October 1 st 2016 Clear view on how Ivar Aasen is to be operated A detailed plan on how to be ready for operation Integrated and aligned organization with effective use of internal and external resources 32

33 Management principles 1. Safe production is our core business a) All other functions shall support safe production through daily effective activity planning 2. HSE is included as an active element in all operational activities 3. Work that can be executed onshore in a safe and cost efficient manner shall be executed onshore 4. Activities to be managed through work processes. a) Work processes and not organizational structure to drive operational activities both for internal and external resources b) Roles and responsibilities clearly defined in established work processes 5. Continuous improvement is a fundamental principle for all activities and levels of the organization 33

34 Requirments for a lean and efficient operation HSE priority #1 for all work Efficient Operation Center Offshore and Onshore alignment (Operation, Technical Support, Drilling & Well and PETEK) Internal and external resource collaboration Use of available technology and tools Defined in-house competence requirements Staff vs consultancy and third party assistance Utilize external expertise Optimize number of suppliers / contracts 34

40 Alvheim emerges as a regional oil hub Vilje Vilje Sør East Kameleon Boa Kneler B Volund Kneler A August June September October Q4 2013: 2008: 2008: 2011: Vilje Alvheim 2009: Vilje Alvheim SørVolund E Kam. Production Development Vilje Sør is commenced a of southern East extension in Kameleon August June September of 2008 the and 2009, reservoir Viljeat field. and PDO commenced at the PDO field the was in field 2010 estimated was with estimated the to contain to drilling contain of P50 three P50 resources dual-lateral of mmboe of horizontal mmboe. 50 MMBOE. production A single lateral wells. horizontal production well Det The Volund tiedback norske Alvheim was through holds the Field third the a is majority comprised existing subsea 46.9 Vilje of percent subsea the working Kneler, development The system. first Boa, interest. two and tied wells East back began Kameleon to the production Alvheim drill in centers. FPSO October solidifying its position as a regional Initially oil Production hub. two daisy startup chained was early production in 2014 wells, Currently A fourth tied producer back there in are an is 15 currently 18-km producing pipeline being wells to drilled the and The as part Alvheim two field of water produces the FPSO. IOR disposal Project 15,000 wells. BOPD from four producing wells and also contains The one Production water field IOR currently project injection is currently will produces well. deliver 10, ,000 new BOPD from BOPD horizontal three wells. infill producers during 2015/16 Current production is 60,000 BOPD 40

41 NCS - Top 10 oil producing fields, (mill Scm3 oil) 41

42 Alvheim hub extends its reach The next development Bøyla was discovered in Q and was one of several prospects near the Alvheim FPSO with tieback potential. Viper Deep Alvheim The project is nearing completion. Production start up is expected in early 2015 with two horizontal production wells and one water injection well. Kobra Gekko Bøyla 42

47 Overall Field Layout Status at 27 th October 2014 Available for production Complete but not tied in Suspended Drilling/completion ongoing Shut in temproarily

48 Operations & Maintenance philosophy 2004 (developed 4 years prior to startup, and still going strong..) To maximise the value of the Alvheim investment by achieving high production availability together with superior HSE performance through commited Leadership and personal commitment. With an Operations team that is a small, flat organisation of competent, multi-skilled personnel with tight onshore/offshore integration and working across departmental boundaries; a team with special knowledge in operation and maintenance of plant by virtue of individual engagement achieved through system ownership. With the minimum amount of activity offshore by ensuring that as much as is practicle is performed onshore; the offshore team focusing on HSE & uptime whilst the onshore team supports the offshore effort, performs long term planning and maintains the strategy. With special emphasis on onshore / offshore co-operation to avoid traditional barriers, and exploring new ways of integration. 48

50 Our business partners The Asset organisation has a limited capacity and selective expertise.. and a very clear set of deliverables and performance commitments: every year, every month, every week, every day. With 35 onshore & 33 offshore direct FTEs, we require our business partners to: Deliver what is «ordered» Take responsibility Have an open dialogue with us Provide expertise, sometimes integrated into our organisation Do it right first time Estimate and plan accurately Deliver in accordance with plans Provide the appropriate quality Not to over engineer or bureaucratise 50

58 Contact info Det norske Suppliers day - Kick off Phase 3, Tendering and Contracting Communication to be as follows: - Inquiries to be issued to - Nomination of single point of contacts for each tender will be done at submittal of individual ITTs 58

61 Goals for establishment of Operational Contracts Secure necessary contract portfolio for Ivar Aasen Operation, containing contracts for all services and products needed. All contracts to be ready for Operation - start up planned Q Provide a contract portfolio reflecting Det norske as a lean organization, with requirements for effective and productive processes. Realize synergies between Ivar Aasen and Alvheim contract portfolios. All contracts established shall include an option for future licenses in Det norske. 61

63 Principles for tendering Main rule is competitive tender process. Request for Information. Achilles qualification system to be used for tenderer selection. Request for Quotation/ITT Different contract models Standard contract templates for Det norske Frame agreements with Call-off Orders 63

66 Approach to Ivar Aasen contracts with Alvheim synergies Contracts are subject for renegotiation of existing Alvheim Contracts Contracts are subject for common ITT and contract for Ivar Aasen and Alvheim Contracts to be established for Ivar Aasen Operation, and with option for other licenses in Det norske 66

70 Category Management in Det norske Category management is an international practice that helps to transform the process of procurement and supply to generate value by segmenting the procurement of goods, leases, services and public works to achieve the most favourable conditions in terms of quality, timeliness and price Sell Stakeholder management Strategize Category Management Deliver Sourcing / Operational Procurement 70

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